Grenada Economy



Growth in Grenada’s economy has remained strong and consistent for the past few years. The gross domestic product in 1998 was recorded at 6.8% and in the year 1999 it was 8.1%. Grenada’s efforts to make the economy diversified was initiated during reign of the People’s Revolutionary Government or the PRG.(1973 to 1983).
The PRG encouraged manufacturing commodities for domestic consumption.

Grenada trade- export:
Cocoa, nutmeg, vegetables, fruits, bananas, mace, clothing are the main products of export. The countries to which these products are exported include Antigua, Barbuda, Netherlands, Germany, USA, Saint Lucia, France, Dominica, UK, Saint Kitts and Nevis.(2005).

Grenada Economic Performance GDP Inflation Graph 1990-2013

Grenada trade -import:
Fuels, machinery, food, manufactured goods, chemicals are the main products of import. These goods are imported from USA, Trinidad and Tobago and United Kingdom.(2005)

Gross Domestic Product of Grenada Economy
GDP PPP (2002) was USD$440 million.
Gross Domestic Product- real growth rate was 0.9% in the year 2005.
Gross Domestic Product per capita PPP was USD 3,900 in 2005.
In 2003,
GDP (agriculture) 5.4%
GDP (service) 76.6%
GDP (industry) 18%.

Grenada Economic Performance 1990-2013
Year GDP % Change Inflation % Change Year GDP % Change Inflation % Change
1990 5.25 2.72 2002 3.32 1.07
1991 3.62 2.65 2003 8.55 2.16
1992 1.1 3.78 2004 0.12 2.31
1993 -1.23 2.81 2005 12.49 3.48
1994 3.33 2.6 2006 -4.38 4.25
1995 3.09 3.03 2007 6.28 3.86
1996 2.86 2.03 2008 1.69 8.03
1997 4.42 -0.44 2009 -5.68 -0.31
1998 13.42 1.41 2010 -1.27 3.44
1999 8.01 0.57 2011 0.38 3.03
2000 7.04 2.14 2012 0.53 3.2
2001 -1.11 1.67 2013 0.48 2.2

 

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Last Updated on : 7th August 2013